about to take out a scary mortgage.... ...
Fixed or Variable rate... what do you reackon?

Expect another 1 or 2 rate rises this year, hopefully that will be the peak, any more rises than that and a lot of the country will fall flat on its arse. It's already happening in a lot of areas. If you can ride out 12 months hopefully we will see a reduction to follow, thats my theory anyway,
If not I think Krudd might be looking for a bullet proof jacket and a popemobbile(spell?)

thanks guys.... a combo sounds like the way to go.

I am by no means an expert, but having just bought a block and really stretched the finances to do so, I sought LOTS of advice from really switched on people.

All told me to NEVER fix an interest rate as (1) the banks make it up in other areas like fees etc (2) some facilities are not available (for eg maybe early payout or maybe draw funds against equity in the property) (3) it is 50-50 whether they will go up or down!! Would you bet next week's entire pay packet on flipping a coin with a mate?

As I said I don't know sh!t from clay in these matters but ALL mortgage brokers and financial advisers told me to not lock in a fixed rate and rather be responsible with how much I borrow. Having said that, it is a bit easier as I have guaranteed (small ) payrises 6mths and 12mths after taking the loan.